1Q, 2025 Asset Class Return Quilts
Gold was the top-performing major asset over the first quarter, gaining 19.5%. U.S. large-cap stocks ended the first quarter down 4.5% while U.S. small cap stocks declined by 9.5%. International equities fared better than their U.S. counterparts, with international developed market large cap stocks gaining 6.9% and emerging market stocks gaining 2.3% over the first quarter.
4Q, 2024 Asset Class Return Quilts
Gold was the top-performing major asset over 2024, ending the year up nearly 27%. U.S. large-cap stocks ended the fourth quarter up 2.4% and ended the year up 25.0%. The S&P 500 hit over 50 new all-time highs in 2024. U.S. small caps ended the year up 11.5%.
3Q, 2024 Asset Class Return Quilts
The quarter was strong for most risky assets, particularly in rate-sensitive sectors and asset classes such as small caps, utilities, and REITs, helped by the first U.S. interest rate cut and growing expectations of further cuts later this year.
2Q, 2024 Asset Class Return Quilts
Q2 was a good quarter for most risky assets, particularly U.S. large-cap stocks, with those benefitting from the artificial intelligence (A.I.) theme, including mega cap tech and utilities, driving markets.
1Q, 2024 Asset Class Return Quilts
Q1 saw robust returns across most risky assets, particularly in stocks, supported by stronger-than-expected economic growth, and a resilient consumer.
4Q, 2023 Asset Class Return Quilts
In equities, U.S. Large Cap stocks were the top performers over 2023, with gains driven by Technology, Communication Services, and Consumer Discretionary sectors.
3Q, 2023 Asset Class Return Quilts
The S&P 500 ended September down 3.3%, the worst monthly return year-to-date.
2Q, 2023 Asset Class Return Quilts
U.S. stocks continued to push higher during the quarter. The S&P 500 ended the first half of the year up 16.9% and is now up 24.4% since it’s October lows.
1Q, 2023 Asset Class Return Quilts
It was a great start to the year for markets, as the majority of asset classes ended the first quarter with positive returns.
4Q, 2022 Asset Class Return Quilts
Midstream energy ended the year as the top-performing asset class, returning 30.9%.
3Q, 2022 Asset Class Return Quilts
Gold and Taxable Bonds remained the best performing asset classes year to date. U.S. Large Cap Stocks continued to rally from the March 23 bear market lows, while U.S. Small Cap stocks lagged.
2Q, 2022 Asset Class Return Quilts
Commodities and energy stocks have so far served as the only two bright spots in the first half of 2022, up 18% and 32%, respectively.
1Q, 2022 Asset Class Return Quilts
For the second time in two years, the global economy has been thrust into a crisis – first from the pandemic, and now from Russia’s invasion of Ukraine.
2Q, 2021 Asset Class Return Quilts
Midstream energy ended the year as the top-performing asset class, returning 30.9%.
1Q, 2021 Asset Class Return Quilts
Midstream energy ended the year as the top-performing asset class, returning 30.9%.
3Q, 2020 Asset Class Return Quilts
Gold and Taxable Bonds remained the best performing asset classes year to date. U.S. Large Cap Stocks continued to rally from the March 23 bear market lows, while U.S. Small Cap stocks lagged.
2Q, 2020 Asset Class Return Quilts
Gold and Taxable bonds remained on top, adding to their Q1 performance. U.S. Large Cap Stocks rallied 17.4% in Q2, narrowing the year-to-date loss to 2.8%.
1Q, 2020 Asset Class Return Quilts
Gold, Taxable Bonds, and Cash finished the quarter on top and were the only asset class to post positive gains. U.S. Large Cap Stocks fell 20.2% in Q1, 2020.
